Strait of Hormuz

An oil tanker collided with a U.S. Navy ship near the Strait of Hormuz on Sunday but no one was hurt and shipping traffic in the waterway, through which 40 percent of the world's seaborne oil exports pass, was not affected, officials said.

Iran renewed threats on Sunday to close the Strait of Hormuz unless sanctions against it were revoked, though it remains unclear how Tehran could shut down the vital oil shipping channel given the significant American military presence there.

As Iranian threats to close the Strait of Hormuz grew louder over the weekend, the United Arab Emirates quietly loaded its first cargo on Sunday from its long-awaited new oil export terminal on the Gulf of Oman.